Welcome to the June edition of Real Estate News.  Well, if you are a home-owner, then you’ll be glad to hear that it continues to be a seller’s market.  Detached, attached and condo properties in Greater Vancouver totalled 3,377 in May, an increase of 7% compared to May 2010, and a 4.7% increase from April, last month.

 

No records were set for this past month as the 3 highest selling Mays every recorded occurred in 2005, 2006 and 2007 when sales exceeded the 4,000 mark each year. 

New listings totalled 5,931 in May representing a 15.4% decrease from May 2010.  However, compared to April 2011, the May sales increased 1.4%.                      

The total listings on MLS® in May totalled 14,656 which is an increase of 2% compared to April, but declined 16% compared to 2010. 

But the good news is:  the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.2% to $627,568 in May 2011 from $590,662 of May 2010. 

Sales of detached properties on the MLS® in May 2011 reached 1,570, an increase of 25 per cent from the 1,256 detached sales recorded in May 2010.    

Sales of apartment properties reached 1,228 in May 2011, a 9.3 per cent decrease compared to the 1,354 sales in May 2010.    

Attached property sales in May 2011 totalled 579, a 6 per cent increase compared to the 546 sales in May 2010                                         

The benchmark price for detached properties increased 10 per cent from May 2010 to $890,833.                                    

The benchmark price of an apartment property increased 2.2 per cent from May 2010 to $407,419    

The benchmark price of an attached unit increased 3.5 per cent between May 2010 and 2011 to $517,787.  So congratulations, your investment is doing well! 

 

Read full post
Categories
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.